Pinecone Systems Secures $28M Series A Financing

Pinecone Systems, a San Mateo, CA-based company that provides search infrastructure has raised $28M through Series A funding.

Menlo Ventures was the lead, with Tiger Global and Wing Venture Capital participating. As part of the announcement, Tim Tully, Partner at Menlo Ventures and former CTO of Splunk, will join the board of directors.

The company intends to use the funds to grow out its product, customer success, and R&D teams, and invest in core research on machine learning (ML), information retrieval (IR), and natural language processing (NLP).

Pinecone CEO Edo Liberty is leading the creation of a vector database for the next generation artificial intelligence (AI), cloud applications. Vector Search is a search engine that stores and searches through AI-generated representations. These AI-generated representations preserve the meaning of original content and allow developers to create search applications. Pinecone, a vector database product, provides the search infrastructure needed for engineers to implement AI-powered searches into their applications. They don’t need to create or modify existing infrastructure.

Already thousands of people have access to the database, which has customers from many industries, including search engines, eCommerce, enterprise software, search engines, social media platforms, and AI/ML products. The database is used by small and medium-sized businesses, as well as enterprises. It can handle data ranging from hundreds to millions of items to billions.

The company has offices in New York and Tel Aviv, as well as some working remotely.

 

Get latest news from African Startup ecosystem

Latest stories

You might also like...